Reklaim Engages Parallax Ventures to Provide Capital Markets Advisory Services
New York, New York--(Newsfile Corp. – September 1, 2022) - Reklaim Ltd. (OTCQB: MYIDF) (TSXV: MYID) ("Reklaim" or the "Company"), the destination for consumers to access and reclaim their data, announces that it has engaged Parallax Ventures Inc. (the “Consultant”) to provide certain financial and capital markets advisory services (the “Services”) to the Company, pursuant to an agreement dated August 16, 2022 (the “Agreement”).
In consideration of the Services, the Company will pay the Consultant a fee of C$120,000 in equal quarterly installments, satisfied through the issuance of such number of common shares in the capital of the Company (the “Common Shares”) calculated by dividing the amount due by the 5-day VWAP of the Common Shares immediately prior to the announcement of the share issuance.
The term of the Agreement is twelve (12) months and may be extended at the discretion of the Company.
The Agreement and the issuance of the Common Shares thereunder are subject to the approval of the TSX Venture Exchange (the “TSXV”). All securities issued pursuant to the Agreement will be subject to a hold period of four months plus one day from the date of issuance thereof in accordance with applicable TSXV policies and Canadian securities laws.
About Reklaim ltd.
Reklaim is driven by consumer data and the evolution of privacy. Offering compliant, zero-party data to Fortune 500 brands, platforms, and data companies, Reklaim allows consumers to visit the platform, confirm their identity, and unveil data that has been collected and sold without the consumer's explicit consent for years. Reklaim enables consumers to take back control of this data by setting up a Reklaim account where, should they choose to, they can be compensated for their data or choose to protect it via a suite of privacy tools. To view more information about Reklaim, visit https://investors.reklaimyours.com
For further information, please contact:
Ira Levy, CFO
1-855-908-DATA
E: investorrelations@reklaimyours.com
Investor Relations:
Sean Peasgood, Sophic Capital
1-647-977-9822
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the TSX Venture Exchange policies) accept responsibility for this news release's adequacy or accuracy.
Forward-Looking and Other Cautionary Statements
This news release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include statements based on current expectations involving several risks and uncertainties without limitation and are not guarantees of the Company's future performance. Actual results and future events could differ materially from those anticipated in such information. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to; the market for privacy may not continue to grow, recent privacy regulations may not have the anticipated effect; and the uncertainty surrounding the spread of COVID-19 and the impact it will have on the Company's operations and economic activity in general; and the risks and uncertainties discussed in our most recent annual and quarterly reports filed with the Canadian securities regulators and available on the Company's profile on SEDAR at www.sedar.com, which risks and uncertainties are incorporated herein by reference. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by law, the Company does not intend and undertakes no obligation to update any forward-looking statements to reflect, in particular, new information or future events.
